SB 140 Raises CAT exemption level, but increases tax
This bill amendment -3 raises the Corporate Activities Tax (CAT) exemption level from $1 million to $2 million (-5 amendment is $3 million and reduces labor deduction to $125,000 per employee) to help spare the pain on many businesses. Yet at the same time raises taxes on businesses by 16% by reducing expense deductions for certain businesses, $2M to $10M,…
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